- EON Resources Inc. (EONR, Financial) has published an investor presentation for the South Justis Field acquisition.
- The South Justis Field, located in Lea County, NM, comprises 5,360 acres with significant oil reserves.
- EON Resources aims to maximize shareholder value through strategic acquisitions and development.
EON Resources Inc. (EONR), an independent upstream energy company, has made its latest investor presentation available on the company's website, detailing its acquisition of the South Justis Field. The presentation can be accessed at www.eon-r.com/presentations.
The South Justis Field, situated in the Central Basin of the Permian Basin in Lea County, New Mexico, spans 5,360 contiguous acres. It includes 208 combined producing and injection wells with large spacing. Originally developed in the 1960s, the field underwent a significant waterflood effort costing $40 million in the 1990s, which later saw a decline in production due to idle wells.
The field contains key intervals such as the Glorietta, Blinebry, Tubb, Drinkard, and Fusselman, with depths ranging from 5,000 to 7,000 feet. The original oil in place (OOIP) is estimated at approximately 207 million barrels of oil.
EON Resources, listed on the NYSE American under the ticker EONR, leverages its assets in the Permian Basin to enhance shareholder returns. Their focus includes acquisition, production enhancement, and strategic exploitation of oil and gas properties across the U.S.
The company operates through its subsidiary, LH Operating, LLC, which manages holdings in the Grayburg-Jackson Oil Field. The field is located on the Northwest Shelf of the Permian Basin in Eddy County, New Mexico, with proven reserves of approximately 14 million barrels of oil.
EON Resources continues to explore ways to enhance production and unlock potential reserves, with the aim of ensuring long-term viability and increased shareholder value.
